UBS Group Has Lowered Expectations for Raymond James Financial (NYSE:RJF) Stock Price

Raymond James Financial (NYSE:RJF) had its price target reduced by investment analysts at UBS Group from $176.00 to $158.00 in a research note issued on Wednesday,Benzinga reports. The firm presently has a “neutral” rating on the financial services provider’s stock. UBS Group’s price objective would indicate a potential upside of 6.95% from the stock’s previous close.

A number of other equities research analysts have also issued reports on the stock. TD Cowen reissued a “hold” rating on shares of Raymond James Financial in a research note on Wednesday, January 14th. Jefferies Financial Group reduced their price target on Raymond James Financial from $165.00 to $145.00 and set a “hold” rating for the company in a report on Monday. Morgan Stanley reiterated a “positive” rating on shares of Raymond James Financial in a report on Monday, December 22nd. Weiss Ratings raised shares of Raymond James Financial from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Friday, February 20th. Finally, Bank of America boosted their target price on Raymond James Financial from $194.00 to $196.00 and gave the stock a “neutral” rating in a report on Wednesday, December 10th. Four investment analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $176.92.

Raymond James Financial Stock Up 3.8%

NYSE RJF traded up $5.35 during trading on Wednesday, reaching $147.73. 1,145,567 shares of the company’s stock were exchanged, compared to its average volume of 1,388,640. Raymond James Financial has a fifty-two week low of $122.81 and a fifty-two week high of $177.66. The firm has a market capitalization of $29.12 billion, a PE ratio of 14.45, a P/E/G ratio of 1.07 and a beta of 1.00. The company has a current ratio of 1.06, a quick ratio of 1.04 and a debt-to-equity ratio of 0.42. The company’s fifty day simple moving average is $153.48 and its 200-day simple moving average is $160.23.

Raymond James Financial (NYSE:RJF) last announced its quarterly earnings data on Wednesday, January 28th. The financial services provider reported $2.86 EPS for the quarter, topping analysts’ consensus estimates of $2.83 by $0.03. Raymond James Financial had a return on equity of 17.65% and a net margin of 13.07%.The firm had revenue of $3.74 billion during the quarter, compared to analyst estimates of $3.83 billion. During the same period last year, the company posted $2.93 EPS. The business’s quarterly revenue was up 5.6% compared to the same quarter last year. Sell-side analysts predict that Raymond James Financial will post 11.17 EPS for the current year.

Insider Activity at Raymond James Financial

In other news, insider Bella Loykhter Allaire sold 29,551 shares of the company’s stock in a transaction dated Thursday, March 19th. The shares were sold at an average price of $142.34, for a total transaction of $4,206,289.34. Following the completion of the transaction, the insider owned 53,586 shares of the company’s stock, valued at approximately $7,627,431.24. This represents a 35.54% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.58% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the stock. Norges Bank acquired a new position in shares of Raymond James Financial in the fourth quarter valued at $324,263,000. First Trust Advisors LP raised its stake in Raymond James Financial by 18.3% during the fourth quarter. First Trust Advisors LP now owns 3,071,996 shares of the financial services provider’s stock worth $493,332,000 after acquiring an additional 474,477 shares in the last quarter. Munich Reinsurance Co Stock Corp in Munich acquired a new position in Raymond James Financial during the third quarter worth $69,861,000. PFA Pension Forsikringsaktieselskab acquired a new position in Raymond James Financial during the fourth quarter worth $64,640,000. Finally, AQR Capital Management LLC raised its stake in Raymond James Financial by 40.0% during the fourth quarter. AQR Capital Management LLC now owns 1,096,731 shares of the financial services provider’s stock worth $176,124,000 after acquiring an additional 313,587 shares in the last quarter. Institutional investors and hedge funds own 83.83% of the company’s stock.

About Raymond James Financial

Raymond James Financial is a diversified financial services firm headquartered in St. Petersburg, Florida. Founded in 1962, the company provides a range of services to individual investors, businesses and institutions through a combination of wealth management, capital markets, investment banking, asset management, banking and trust services. Its business model centers on a network of financial advisors and broker-dealer operations that deliver personalized financial planning, investment advisory services and brokerage solutions.

The firm’s core offerings include private client wealth management delivered by independent and employee advisors, equity and fixed-income research, institutional sales and trading, and investment banking services such as mergers and acquisitions advisory and capital raising.